Nonpay Research Paper

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Table of Contents Things to Consider Before You Borrow . . . . . . . . . . . . . . . . . . . . 1 Rules for Borrowing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Applying for a Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Repaying a Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Taxable Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Appendix I How Nonpay Status Affects Your TSP Loan . . . . . . . . . . . . . . . . . 13 Appendix II Requirements for Residential Loan Documentation . . . . . . . . . . 16 Appendix III Checklist for Making Additional Loan…show more content…
For more information, refer to Form TSP-16, Exception to Spousal Requirements (TSP-U-16 for members of the uniformed services), which is available from the TSP website, or from your agency or service. The TSP will pursue, and refer to the Department of Justice for prosecution, any person who attempts to deprive a spouse of his or her TSP rights by forging the spouse’s signature, by lying about marital status, or by taking similar fraudulent actions. If you have a court order against your account, you will not be able to get a loan. The TSP must honor certain orders, such as those that enforce payment of child support or alimony, or that award a portion of your account to a former spouse. When the TSP receives a court order, a hold is placed on your account. You cannot get a loan until the court order has been satisfied. For more information about court orders, read the TSP booklet Court Orders and Powers of Attorney, available from the TSP website, your agency or service, or the

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